Sri Lanka, Dec. 15 -- Former Chairman of the Ceylon Petroleum Corporation (CPC), Dhammika Ranatunga, has been arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) in connection with an ongoing investigation. Sri Lanka travel

The arrest relates to allegations that Ranatunga caused a financial loss of nearly Rs. 800 million to the CPC by cancelling three long-term fuel procurement tenders scheduled for 2017-2018 and replacing them with spot tenders at higher prices.

Ranatunga is scheduled to be produced before the Colombo Chief Magistrate's Court for further legal proceedings.

Published by HT Digital Content Services with permission from Daily News Sri Lanka....